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Tencent profits soar even as China tech crackdown worries linger

Tencent profits soar even as China tech crackdown worries linger
ktvz.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ktvz.com Daily Mail and Mail on Sunday newspapers.

Tencent Holding Ltd (TCEHY) Q1 2021 Earnings Call Transcript

Tencent Holding Ltd. (TCEHY) Q1 2021 Earnings Call Transcript Motley Fool Transcribing © The Motley Fool Logo of jester cap with thought bubble. Tencent Holding Ltd. (OTC: TCEHY) Q1 2021 Earnings Call Good day, and thank you for standing by. Welcome to Tencent Holdings Limited 2021 first-quarter results announcement conference call. [Operator instructions] After the speakers presentation, there will be a question-and-answer session. [Operator instructions] Please be advised that today s conference is being recorded. [Operator instructions] Now, I would like to hand the conference over to Ms. Wendy Huang from Tencent IR team. Thank you. Please go ahead, ma am. Wendy Huang Investor Relations Officer

The founder of Meituan estimates the cost of social media messes is $ 2 billion

The founder of Meituan estimates the cost of social media messes is $ 2 billion
wiredprnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wiredprnews.com Daily Mail and Mail on Sunday newspapers.

Alibaba vows to hike spending after first loss since 2012

May 15, 2021 Alibaba Group Holding Ltd. forecast better-than-expected revenue and pledged to invest in new growth arenas, signaling its intention to move past a Chinese antitrust probe that triggered its first loss in nine years. Jack Ma’s flagship e-commerce firm swung to a 5.5 billion yuan ($852 million) net loss its first since 2012 after the company swallowed a $2.8 billion fine for monopolistic behavior imposed by Beijing. It now intends to refocus on its business, plowing “all incremental profit” back into technology and hotly contested areas like community commerce, Chief Executive Officer Daniel Zhang pledged on Thursday. Its shares fell more than 6% in Hong Kong after Citigroup and CICC slashed their price targets on fears that prioritizing growth will hammer profits.

Chinese regulators fine Alibaba record $2 8bn

Chinese regulators fine Alibaba record $2.8bn Ecommerce group penalised for abusing market dominance as Beijing steps up scrutiny of tech sector Sun, Apr 11, 2021, 16:45 Alibaba said it “sincerely accepted” the penalty.   Chinese regulators have fined Alibaba a record Rmb18.2 billion (€2.3 billion) after finding that the ecommerce group had abused its market dominance. The $2.8 billion (€2.3 billion) penalty, which was set at 4 per cent of Alibaba’s 2019 revenues, concludes an antitrust investigation into the company founded by Jack Ma. It comes as Chinese authorities have stepped up scrutiny on dealmaking and anti-competitive practices in its once lightly regulated technology sector. The market regulator said that since 2015 Alibaba had forced merchants to sell exclusively on its Tmall and Taobao online shopping platforms.

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